SoundCloud just secured it’s biggest funding ever, CEO assures they’re here to stay

After contesting rumours that SoundCloud were on the brink of shutdown CEO Alex Ljung has announced they have just wrapped up their largest round of funding ever.

Recent months have seen SoundCloud face rumours of its impending doom and that the investors want to oust founder Alex Ljung from his position as CEO. They strongly denied claims of their severe lack of funding that would precede their demise, and now it seems they were right as they’ve secured the largest investment since launching 10 years ago.

The funding that SoundCloud have received will allow them to continue under their own ownership and has come from two investors, The Raine Group and Temasek. It’s not clear if these are the two investors who were rumoured to be taking a majority stake in the company last month.

Rumours concerning a CEO replacement seem to have been accurate as former Vimeo CEO Kerry Trainor (pictured above) will take Alexander Ljung’s place as CEO of the company. Trainor will also be bringing in Mike Weissman as his COO at SoundCloud. Ljung will remain as Chairman at the company after helping to found the company and run it as CEO for the past 10 years.

Ljung wrote a full statement that you can read below:

Hey everyone,

Recently you heard me say SoundCloud isn’t going away. And today I’m here to tell you the exact same thing once again. In all caps.

I’m happy to announce that together with investors The Raine Group and Temasek we’ve just wrapped up the largest financing round in the history of SoundCloud. This financing means SoundCloud remains strong & independent. As I said, SoundCloud is here to stay.

Over the last few weeks, I’ve been moved by the outpouring of commentary around SoundCloud’s unique & crucial role in driving what global culture is today (and what it will become tomorrow). You’ve told me how, without SoundCloud, there would be a giant gaping void in today’s world of music. We can’t have that, and I’m happy to once again say that won’t be happening.

I’m excited to also announce that this new partnership also brings talent to our SoundCloud family. From prior Vimeo-fame (a platform we love!) comes Kerry Trainor and Mike Weissman, two awesome leaders who will be joining SoundCloud as CEO and COO, respectively.

Wait, CEO? Am I leaving? No, absolutely not. After a decade of balancing the roles of Founder, CEO and Chairman I’m excited to hand the CEO reins over to Kerry to allow me to fully focus on the role of the Chairman and the long-term. This, I know, sets us up as an even greater team  for the decade(s) to come.

10 years ago SoundCloud was just an idea Eric and I bounced around. Today it’s a platform essential to the shaping of songs, artists, genres and global culture. I can’t fathom how we’ve been so lucky as to create that. But what’s even better is this: we’re all just getting started. The first 10 years are done, and now we’re onto decade II.

SoundCloud, just like music, will continue to evolve, but importantly, both will always be a key part of life.

Alexander Ljung
Founder & Chairman, SoundCloud

Writing about music, listening to music, and occasionally playing music.

Spotify’s ‘Community’ mobile hub: see what friends are listening to, iOS users can access it now

Spotify’s ‘Community’ hub is a new feature coming to the platform. It’ll provide a social hub of sorts that’ll allow mobile users to see what music their friends are enjoying and what playlists they’re updating.

How to see your YouTube Music Spring Recap – like Spotify Wrapped but for each season

YouTube Music Recap is not just a yearly event. Now you can see your most played artists and songs as the year goes by.

2 comments

    Hey,

    RouteNote does not distribute your content directly to SoundCloud – selecting SoundCloud as a distribution store for your release will allow you to monetize the eligible streams of any tracks on your SoundCloud channel that are also tracks within your RouteNote release.

    Once SoundCloud has been selected as a store for your release and your release has been approved by our moderation team, you will need to add your SoundCloud channel URL into the SoundCloud section of your RouteNote account.

    After that, you’ll then need to put the URL of the tracks on your SoundCloud account into the SoundCloud section on your account next to the track ISRCs from your RouteNote release at the bottom section of the page.

    You might find this page helpful: https://routenote.com/soundcloud/guide – please note that you’ll need to be logged in to your RouteNote account to access the page.

Leave a Reply

Your email address will not be published. Required fields are marked *